Oct 24, 2024 / 07:00AM GMT
Johan Torgeby - Skandinaviska Enskilda Banken AB - President, Chief Executive Officer, Director
Welcome everyone to our Q3 2024 results. As customary, we will refer to the slides or from the slide show that we posted on SAB on the web. So starting with our highlights on page 2, this is clearly a quarter where interest rates continue to fall and amidst a falling interest rate environment, one can see the diversified business model of SAB in play where both fees and commission and net financial income mitigates the otherwise falling trend in interest rates.
We've also now consumed the acquisition of Germany's Air plus, the corporate credit card business and therefore we reiterate the underlying cost target for 2024 of the low or at '29 billion and we now include Air plus, which we will come back to and the new target is 31.0 billion.
We continue after the decision of the board yesterday with our share buyback program with another 2.5 billion per quarter and this means that we are continued to continue to commit to our capital target of 300 basis points or below as a capital buffer as of
Q3 2024 Skandinaviska Enskilda Banken AB Earnings Call Transcript
Oct 24, 2024
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